The agent described their situation for me:

How would things change for you if you were able to overcome this problem in a way that not only makes you look cool but allows you sign up most listings?

See, if we get this wrong it can make us look exactly like she has described – like we are not coming to the party. Like we are a stiff agent and not attractive to the vendor.

If we get this right we can help the vendor to understand that in actual fact they are costing themselves money by choosing the agent who is fee cutting. We can position ourselves as the agent to put the most amount of money in their bank account and we get flow on listings from here after we get them happily moved and they tell all their friends that because of you they got and extra $5k, $10k, $15k – $50k on the sale of their home. This means less prospecting and more listings. Ok, let’s get started.

So here are three hot principles for getting the listing when other agents are fee cutting:

1. [FEEL] Stay calm – if the vendor says the other agent said they could get an extra $50k for their house and they are charging a 1% fee – Just relax. Demonstrate that you understand that from their position it looks like a no brainer to choose the cheap agent who has overpriced their home. Help them to understand that you know how they feel.

2. [FELT] Tell some stories of other vendors who have felt the same way. But really describe the way they felt – what emotions were they feeling? For instance, you might say:

“One of my vendors was also frightened that they would be paying too much by listing with me. They had worked hard on the renovation of the house and they were very careful about every cent, as we all should be Mr. & Mrs. Seller.”

Go into great detail.

3. [FOUND] Go into the “This is what they found.” Chances are you will have a vendor who choose you over a cheaper agent and who got more money in their bank account at the end of the day because of it. Describe that situation. Describe in great detail the finances, breaking it down to a +$ profit figure at the end.

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